China has unveiled a groundbreaking zero-tariff policy for 33 African nations, Ethiopia among them, granting these countries duty-free access to one of the globe's largest consumer markets.
This significant announcement was made during the 2024 Forum on China-Africa Cooperation, and it encompasses all goods from the participating nations, heralding a new era in trade dynamics.
Ethiopian leaders and economists are optimistic about this development, seeing it as a pivotal chance to broaden their export horizons. Tefere Derbew, Ethiopia’s Ambassador to China, highlighted the immense potential for increasing exports of key products like coffee and sesame.
He remarked that this initiative presents Ethiopia with a genuine opportunity to enhance its export portfolio to China. Echoing this sentiment, macroeconomist Merid Tullu pointed out that the zero-tariff policy could significantly invigorate Ethiopia’s economy by diversifying exports, generating employment, and fostering overall economic growth.